Most car buyers with poor credit probably know that not paying their bills on time – or even at all – can both lower their FICO scores as well as either prevent them from getting an auto loan – either that or cause them to pay a higher interest rate from a subprime lender.
At Auto Credit Express, where we primarily deal with car loans, applicants with bad credit sometimes ask us, “What credit score do you need to lease a car?”
But the fact remains that credit-challenged consumers should also know what items are not considered, at least by FICO, when a credit score is computed.
But it’s also true that consumers with bad credit who want to know the best way to buy a car with poor credit should also know which facts are not considered, at least by FICO, when a credit score is computed.
While the best things in life are not always free at least in this case it happens to be true even for car shoppers with problem credit that want to know where they stand before applying for an auto loan.
Car buyers with poor credit who are in the process of applying for car loans should understand how this action will affect their credit scores.
Even with all the information available on our web site and elsewhere we continue to come across car shoppers with questionable credit that don’t understand why the credit score used for their auto loan approval isn’t the same as the one they have.